Charter Communications (NASDAQ:CHTR) Stock Gets Downgrade from Zacks Research

Charter Communications (NASDAQ:CHTR) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday, Zacks reports.

Other equities research analysts have also recently issued research reports about the company. Citigroup boosted their target price on Charter Communications from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday. Benchmark reaffirmed a “buy” rating on shares of Charter Communications in a research note on Wednesday, July 22nd. Royal Bank Of Canada lowered their price target on Charter Communications from $160.00 to $150.00 and set a “sector perform” rating on the stock in a research report on Monday, July 27th. Wolfe Research downgraded Charter Communications from a “peer perform” rating to an “underperform” rating and set a $118.00 price objective on the stock. in a research note on Monday, September 14th. Finally, Weiss Ratings lowered Charter Communications from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, October 2nd. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Charter Communications has an average rating of “Reduce” and a consensus price target of $193.41.

Charter Communications Stock Up 1.7%

CHTR stock opened at $136.31 on Tuesday. The firm’s 50-day moving average is $119.72 and its two-hundred day moving average is $162.43. The company has a market capitalization of $16.26 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 0.71 and a beta of 0.73. Charter Communications has a 52 week low of $101.11 and a 52 week high of $254.11. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 3.58.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, November 6th. The company reported ($20.50) earnings per share (EPS) for the quarter, missing the consensus estimate of $8.94 by ($29.44). Charter Communications had a net margin of 2.50% and a return on equity of 27.11%. The company had revenue of $14.92 billion during the quarter, compared to the consensus estimate of $13.50 billion. During the same quarter last year, the business earned $8.34 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. On average, analysts forecast that Charter Communications will post 35.30 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CHTR. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Charter Communications during the first quarter valued at approximately $25,000. Trust Co. of Vermont acquired a new position in Charter Communications in the 2nd quarter worth approximately $28,000. Raiffeisen Bank International AG grew its position in Charter Communications by 259.7% during the 2nd quarter. Raiffeisen Bank International AG now owns 223 shares of the company’s stock worth $33,000 after purchasing an additional 161 shares in the last quarter. MCF Advisors LLC grew its position in Charter Communications by 106.5% during the 2nd quarter. MCF Advisors LLC now owns 223 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares in the last quarter. Finally, Legacies Wealth LLC acquired a new stake in Charter Communications during the 3rd quarter valued at $30,000. 81.76% of the stock is owned by hedge funds and other institutional investors.

Key Charter Communications News

These are some of the CHTR news items that stood out recently:

• Positive Sentiment: Charter subsidiaries launched cash tender offers for eight note series, with up to $1.5 billion in aggregate consideration. The announcement was associated with a sharp stock rally, suggesting investors welcomed the debt-management move. Charter Announces Tender Offers for Eight Series of Notes
• Positive Sentiment: Citigroup raised its price target to $150 from $140 and maintained a Buy rating, implying further potential upside. A Wells Fargo analyst also reportedly sees the shares rising, though the article details were limited. Citigroup rating information Wells Fargo analyst article
• Negative Sentiment: A separate earnings-call analysis characterized Charter’s growth reset as costly, raising concerns about the expense of its strategy. Earnings call analysis

Charter Communications Company Profile

Charter Communications, Inc. provides broadband, video, voice and mobile services in the United States, primarily under its Spectrum brand. Its residential offerings include high-speed internet, television and home phone services, while its business services include connectivity, communications and managed solutions for organizations. The company also offers Spectrum Mobile, a wireless service that complements its broadband business. Charter serves customers across a broad U.S. footprint, including communities where it provides services over its cable network.